LIC's NEW ENDOWMENT PLUS (UIN: 512L301V01)
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDERS WILL NOT BE ABLE TO SURRENDER/ WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.
LIC's New Endowment Plus is a unit linked
non-participating endowment assurance plan which offers investment cum
insurance cover during the term of the policy. This plan is specially designed
for you to provide a very good combination of protection and long term savings
and also provides you greater flexibility to build a better life and realise your dreams.
You have a choice of investing premiums in one of
the four types of investment funds available. Premiums paid after deduction of Premium
Allocation Charge will purchase units of the Fund type chosen. The unit fund is
subject to various charges and value of units may increase or decrease,
depending on Net Asset Value (NAV).
Payment of Premiums: You may pay premiums regularly
at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals
over the term of the policy.
A grace period of 30 days
will be allowed for payment of yearly or half-yearly or quarterly premiums and
15 days for monthly (ECS) premiums.
Death Benefit: On death of the Life Assured before the
stipulated Date of Maturity provided policy is inforce,
death before the Date of Commencement of Risk:
An amount equal to
the Policyholder's Fund Value shall be payable.
death after the Date of Commencement of Risk:
An amount equal to
the higher of Basic Sum Assured or Policyholder's Fund Value shall be payable. Where, Basic Sum Assured is (10 *
Annualized Premium) or (105% of the total premiums paid), whichever is higher.
B) Maturity Benefit:
On Life Assured surviving the date of maturity
provided the policy is inforce, an amount equal to Policyholder's Fund Value shall be payable.
3. Optional Benefits:
The policyholder has an option of availing LIC's Linked Accidental
Death Benefit Rider (UIN: 512A211V01).?
For more details on the above Rider, refer to
the Rider brochure or contact LIC's nearest